An Assessment of the Level of Information Security Awareness among Online Banking Users in Nigeria

Abstract

Internet is an important and valuable tool for many successful businesses in this 21st century thereby keeping a huge amount of information at ones’ fingertips, the introduction of Internet banking system has classically replaced most of our previous banking system. Internet banking also called online banking has helped in production growth, quick access to ones’ account, smooth and easy transactions of goods and services. Since the introduction of online banking to Nigeria, the banking sector has experienced huge development in their mode of operations and services. However, online banking system is facing some problems in financial information security. Financial information security threats are these problems which mostly affects online banking users who input their confidential financial details online. Therefore, to prevent them from been a victim of security threat (information breach), there must be proper awareness about financial information security which will help in protecting online banking users from any form of attack. In order to provide sound awareness about financial information security, a survey is carried out using questionnaires and interview to assess online banking users about their level of awareness in financial information security. From the analysis of the survey it was observed that most online banking users in Nigeria are still not aware of various attacks associated with online banking, which means the existing method of awareness are feeble.